Landisville inc had the balance sheet as shown below on 12/31/13cash 20,000accts receivable 21,200 Investments 32,000plamy assets (net) 81,000land 40,000TOTAL 194,200aCCTS PAYABLE 30,000NOTES PAYABLE (LONG TERM) 41,000COMMON STOCK 100,000RETAINED EARNINGS 23,200TOTAL $194,200DURING 2013 THE FOLLOWING OCCUREDLANDISVILLE INC SOLD PART OF THE INVESTMENT PORTFOLIO FOR $15,000. THE TRASNACTION RESULTED IN A GAIN OF 3,400 FOR THE COMPNAY. The company classifies its investments as available for salea tract of land was purchased for $18,000 long term notes payable in the amount of $16,000 were retired before maturity by paying 16,000 cash.an additional $20,000 in common stock was issued at pardividends of $8,200 were declared ans paid to stockholdersnet income for 2013 was 32,000 after allowing for depreciation of $11,000land was purchased through the issuance $30,000 in bondsat december31 2013 cash was $32,000. accts receivable was $41,600 and accts payable remained at $30,000Instructrions”:cash prepare a statemebt of cash flows for 2013
Lion Essays is a licensed Academic Writing Service created to offer academic help to students from all parts of the world. We strive to be the best at what we do by combining convenient academic help with affordable pricing to allow all students to subscribe to our outstanding services.